13
Aug
01:00
Pangang profit may be hit by Karara impairment
The news that Australia’s Gindalbie Resources is taking a $640 million write-down on its stake in the Karara magnetite iron ore project is causing concern at project partner Panzhihua Iron and Steel Group (Pangang), Kallanish understands. The Chinese company says that, due to differing accounting standards in Australia and China, it is still in the process of assessing the effects of the impairment and the true value of its controlling stake in Karara.
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Anonymous
Very good overview of the weekly steel market.
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